The Martha’s Vineyard Land Bank reported revenues of $416,470 for the business week ending on Friday, May 19, 2023. The land bank receives its funds from a two per cent fee charged on many Vineyard real estate transactions.

Much of the land bank revenue last week came from the town of Oak Bluffs, where two transactions resulted in $159,600. Two transactions earned $111,770 in Edgartown. Four transactions generated $111,400 in West Tisbury. And two transactions resulted in $33,700 in Tisbury. No eligible transactions were recorded in Aquinnah or Chilmark.

The land bank uses its revenues to purchase and manage land for purposes of conservation, preservation and passive recreation. To date the agency has participated in the purchase of more than 3,900 acres of Vineyard land.